Austria

Evaluating the market in Austria

We can help you get a better understanding of market activity, relationships and support to grow your business.

EDC Position

Open

What this means:

Actively pursuing business

All EDC solutions are available in this market, subject to regular approval criteria

How does EDC determine the position?

EDC takes the following into account when determining the position in a given market:

Government of Canada restrictions

Political, human rights and corruption risks

Other factors that may be taken into consideration are: size of the economy, diversification of the economy, risk of natural disasters

Risk Rating

Low Risk

What this means:

The Commercial Country Ceiling (CCC) Risk Rating is measured from low to high, and is meant to represent the best possible rating that can be assigned to a commercial business (obligor) in a country.

How does EDC determine the risk rating?

The CCC risk rating is impacted by the Sovereign Probability of Default (ability and willingness to honour financial obligations), political risks, and other mitigating or worsening factors.

Business environment in Austria

Austria has a strong and growing trade relationship with Canada exemplified by the fact that Canadian exports to Austria reached about CAD $229 million in 2016. In the medium term, Canadian exports to Austria should get a boost with the Comprehensive Economic and Trade Agreement (CETA). The Austrian economy is modern, developed and accommodating to business. In the World Economic Forum's recent Global Competitiveness Report, Austria ranked 19th out of 138 countries with particular emphasis placed on innovation and business sophistication, as well as high-quality education and training programs. EDC has historically seen most activity in the aerospace (OEM - fixed wing aircraft), automotive and heavy truck, packaging, and mining and metals industries. In addition to these industries, EDC sees strong opportunities for Canadian business in the ICT, advanced manufacturing technologies and cleantech sectors. It should be noted that while Austria is a very economically stable country, real GDP growth has recently slowed and is expected to be about 1.3 per cent for 2018. That said, this could rise given a strengthening European Union economic environment.